Square Enix sells Western studios to Embracer Group

Square Enix has announced that they've made an agreement with Embracer Group to sell 3 Western studios for $ 300 million USD: Crystal Dynamics, Eidos Montréal, and Square Enix Montréal. Also a catalogue of IPs will be transferred like Tomb Raider, Deus Ex, Thief and Legacy of Kain.

Crystal Dynamics is known for the Tomb Raider series which received a reboot in 2013. They are currently working on a new Tomb Raider game which is developed with the Unreal Engine 5. Eidos Montréal has developed games like Deus Ex: Human Revolution and Deus Ex: Mankind Divided. Square Enix Montréal is mostly known for the Go series like Hitman Go and Tomb Raider Go.

Embracer Group was previously known as Nordic Games and THQ Nordic and has acquired several companies in the past like Koch Media, Deep Silver and Gearbox.

Square Enix said the transaction enables "the launch of new businesses by moving forward with investments in fields including blockchain, AI, and the cloud".